Investmentaktiengesellschaft Fuer Langfristige Investoren TGV Has $29.25 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

Investmentaktiengesellschaft Fuer Langfristige Investoren TGV grew its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 10.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 220,000 shares of the company’s stock after buying an additional 20,000 shares during the quarter. PDD comprises approximately 1.8% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings, making the stock its 10th largest holding. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings in PDD were worth $29,249,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PDD. Future Financial Wealth Managment LLC purchased a new position in shares of PDD in the 1st quarter worth approximately $29,000. Mather Group LLC. grew its position in shares of PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after buying an additional 354 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PDD in the 4th quarter worth approximately $59,000. Ridgewood Investments LLC purchased a new position in shares of PDD in the 2nd quarter worth approximately $60,000. Finally, EverSource Wealth Advisors LLC grew its position in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

PDD Trading Up 2.9 %

Shares of PDD traded up $2.69 during mid-day trading on Friday, reaching $96.11. The stock had a trading volume of 32,972,152 shares, compared to its average volume of 17,260,026. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.09. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The business’s fifty day moving average is $132.27 and its 200 day moving average is $131.90. The firm has a market cap of $132.23 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 0.23 and a beta of 0.63.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. PDD’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.27 earnings per share. On average, sell-side analysts predict that PDD Holdings Inc. will post 11.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on PDD. Jefferies Financial Group dropped their target price on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Bank of America dropped their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Benchmark dropped their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $177.78.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.